Edra Global, based in Kuala Lumpur, is the second biggest independent power producer in Malaysia, trailing only Malakoff Corp.

It has 13 electricity projects with a total installed capacity of 6,620 megawatts across Malaysia, Egypt, Bangladesh, the United Arab Emirates and Pakistan, according to CGN’s website.

An Edra Global offering could help provide a boost to the Malaysian equity market after first-time share sales raised just USD270 million this year, the lowest level for any comparable period since 2009, data compiled by Bloomberg show.

However, the people quoted by Bloomberg cautioned, the plan for the listing of Edra Global was preliminary and details could change.

CGN agreed last year to pay RM9.83 billion to buy Edra Global from 1MDB, the Malaysian investment fund that is at the centre of several international investigations into alleged corruption and money laundering. The transaction was completed earlier this year, added the report.